Once you get your influencer network engaged and your distribution channel going, even just a little bit, you will find that there’s a certain momentum that kicks in.
It might be slow at first, but it has the potential to grow.
Influencers who see results quickly become more engaged and embed themselves further into your product or service. And when more influencers realize the opportunity and start working with you, the snowball effect begins to take shape!
This is usually when you need to double check that you can cover the supply side of things to make sure you (and your influencers) can deliver on what was promoted.
The following diagram shows the snowball effect in an established distribution network:
As you increase the number of active influencers, you will realize that your marketing and communications are compounding with the combined marketing efforts of them all.
This does not necessarily mean that all these influencers are closing deals… BUT, it does mean they are all trying!
In fact, you may find that roughly 20% are actually selling at any given time, but the combined marketing efforts of your entire network is doing wonders for brand recognition!
Here’s how to snowball in four steps:
1. Starting up
This is where you find your influencers. You direct message them, attend or even host your own events, use social media to build your brand, position yourself as an expert in the field, and have other influencers find sub-influencers for you.
This is the hard grind we can all relate to, but as you know, it will start to bear fruit soon enough.
Once you have some semblance of a network, you split your time between prospecting and nurturing/encouraging engagement from the influencers you onboarded.
This usually involves mentoring, educating, and assisting them with their first steps.
Your goal is for them to see sales quickly to boost their confidence in your offering. You may have weekly meetings with them, looking for ways to assist them in increasing their sales by things like tweaking your branding or their sales message and providing financial assistance on marketing to boost their engagement levels.
Even with only a handful of engaged influencers, affiliates and other distribution partners, you should start seeing some sales.
The more they sell and promote your brand, the more exposure you get. This means relevant businesses will approach you or your channel partners, wanting to sell your offerings. This is when your momentum kicks into full throttle.
It’s super important to look at your supply side and ensure customer satisfaction is at its best, while working on keeping the excitement going by adding other products or services that are synergetic to your initial business.
This is the point before the snowball faces its inevitable crash!
By the time you reach this step, you will have reached high growth coupled with a good retention rate of your influencers and other distribution partners. They will be your biggest fans!
By this point you will have a multitude of influencers and probably lots of sub-influencers, and they should all be promoting and selling with a degree of self-regulation at a consistent level provided there is adequate supply and demand.
BUT, this will not last forever! So, do not think you can coast for too long…
While it is good to ride the wave for a little while and earn as much money as you can, what you really need to do is think about transcending. And by that, I mean thinking about adding to your product line or service.
Think of other ways to recapitalize on the strength of your business reach. Are there complementary products or offers you can make? Are there other markets you can tap into?
Use software to make life easier – find, engage, and manage your influencer partnerships and distributor channels with DistroChannels.